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Find Your Best Installment Loan Option http://persloans.tk/payday-loans-lomita.html|payday loans lomita Repayment terms are favorable. In Canada, there have been legal cases against payday loan firms. On August 14, 2006, the Supreme Court of British Columbia issued its decision in a class action lawsuit against A OK Payday Loans. A OK charged its customers 21% interest, as well as an administration fee of $9.50 for every $50.00 borrowed. In addition a deferral fee of $25.00 for every $100.00 was charged if a customer wanted to delay payment. The judge ruled that the processing and deferral fees were interest, and that A OK was charging its customers a criminal rate of interest. The payout as a result of this decision is expected to be several million dollars. The British Columbia Court of Appeal unanimously affirmed this decision. This demonstrates that payday loan companies need to operate carefully as provincial governments are trying to crack down on them across the country.
What are Guaranteed/Instant Approval Bad Credit Loans?: This is a different type of loan product that caters for immediate cash-flow requirements. The difference between this type of loan and regular bad credit loans is that the background checks are reduced substantially but a high level of security is required and the loan amount is often small. These types of loans often requires that the applicant has a steady job and write a check in advance for the loan amount plus interest before the cash is released to the applicant's account. It should be noted that these types of loans have higher interest rates to justify their short durations and small amounts. payday loans legal in ct What is our specialty? We assist our clients in borrowing loans in a swift and convenient manner, without letting them go through any complex documentation and credit verification process.
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